This is a re-post of my old article; How much money can I bring into Malaysia. How much limit to bring cash in Malaysia? Any travellers entering or leaving Malaysia with cash and/or negotiable bearer instruments (e.g. traveller's cheques, bearer cheques) exceeding an amount equivalent to USD10,000 must make a declaration in form Customs No. 22. The form will be available at all Malaysia Customs Department Checkpoints at all entry and exit points of Malaysia for free. The rules start since 1 January 2010, in line with the global effort to combat money laundering and terrorism financing. Singapore, the Philippines, Japan, Australia, New Zealand, Britain and Canada have adopted the same rule.
This is a requirement under section 23 of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) and is in line with the Special Recommendation IX by the Financial Action Task Force which requires countries to have measures in place to detect the physical cross border transportation of cash and negotiable bearer instruments. Travellers could be fined up to RM1 million and/or face imprisonment not exceeding a term of one year if they fail to declare or make a false declaration. The act is available on BNM's portal at the following link:
http://www.bnm.gov.my/index.php?ch=14&pg=17&ac=879&full=1
For amount of money/currency that exceeds the limit allowed into Malaysia (USD10,000), you may obtain foreign exchange approval from regulators if necessary. Applications can be submitted to Bank Negara Malaysia by completing forms through the following website:
Non-resident travelers may obtain foreign exchange approval from regulators if necessary to bring the value of the currency exceeds the limit allowed into Malaysia. Applications can be submitted to Bank Negara Malaysia by completing 13 through the following website:
http://www.bnm.gov.my/microsites/fxadmin/0103_application_forms.htm
Submission of application forms for approvals or registrations in relation to foreign exchange administration matters can be submitted either through ONLINE or OFFLINE modes. Application form can be submitted by applicant on his/its own or by a third party on behalf of applicant. To enable submission of application by a third party, the applicant needs to first appoint the third party as its consultant/agent.
For more information, the public can contact the Royal Malaysian Customs Department or Bank Negara Malaysia at the following:
Royal Malaysian Customs Department
Public Relations Branch
Headquarters of the Royal Malaysian Customs Department
Tel: 1-800-88-8855 / +6 03-8882 4803 / +6 03-8882 2929 or
E-mail: customs: kastam@customs.gov.my / aduan@customs.gov.my
Website: http://www.customs.gov.my/
Bank Negara Malaysia
BNMTELELINK (Contact Centre)
Tel: 1-300-88-5465 or
E-mail: bnmtelelink@bnm.gov.my
Website: http://www.bnm.gov.my/
